[credit provider=”Morgan Stanley” url=”http://compliancex.typepad.com/compliancex/2009/06/official-morgan-stanley-smith-barney.html”]
Bloomberg is reporting that Morgan Stanley CEO James Gorman’s pay will fall 25%. He will receive $10.5 million in total compensation for 2011.$5.1 million of his pay will come in retricted shares. The resk is comprised of base salary, deferred cash and deferred performance-based pay.
According to sources cited by Bloomberg, like Gorman, no member of the Morgan Stanley operating committee will recieve any immediate cash bonuses for 2011.
This news comes on the heels of news that Morgan Stanley planned to cut the pay of senior bankers and traders by 20-30%.